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an income statement or profit and loss statement is an essential financial statement where the key value reported is known as net income. (1) the simplified “single-step” income statement groups all of the revenues and expenses, except the income tax expense. (2) the “multi-step” income statement example breaks out the gross profit and operating income as separate lines. the second worksheet, shown on the right, is a multi-step income statement that calculates gross profit and operating income. in the income statement template, there are categories for sales revenue, service revenue, interest revenue, and other revenue.
for a retail company, one of the main expenses is the cost of goods sold. the cost of goods sold can be calculated by adding beginning inventory, goods purchased, raw materials and direct labor for goods manufactured, and then subtracting the ending inventory. in the multi-step income statement, the operating income is calculated as the gross profit minus the total operating expenses. this is the “bottom line”, calculated as the operating income minus interest expense and income tax (and plus/minus non-operating revenues, expenses, gains, and losses, if there are any). these include the effect of accounting changes, income from discontinued operations, and extraordinary items (gaines or losses that are unusual or highly abnormal).
download a free income statement template for excel and other financial statements. learn the essentials for statement is one of the three basic financial statements. use this accessible template to create an income simply download the template in your chosen format, customize and save. you’ll have a complete sheet to save for , income statement template word, income statement template word, personal income statement excel, monthly income statement template, income statement template google sheets.
free income statement template to download. create your own statement of profit and loss with annual and download various income statement samples & templates: multi step income a simple way to track multi step. a multi-step income statement provides a more complete overview of a company’s financial situation. a , income statement format, income statement formula, income statement formula, full format of income statement, projected income statement template excel
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